GST 2016

GST bill is passed

When the Bill is passed today, we will prepare for the next stage of the debate, which is the Central GST Bill. I want an assurance that when that bill is brought, that will be brought as a Financial Bill and not as a Money Bill: Chidambaram Please now, on Read more…

By GST Expert, ago
GST 2016

GST Benefit to Government

Government is expecting following list of benefits from GST: Simpler Tax system across nation. Broadening tax Base with reduced exemption. Better co-ordination between state and center to check evasion and administration. Better tax compliance & Growth in revenue collections. IT enabled system to check evasion and controls

By GST Expert, ago
GST 2016

Benefits of GST to Business

Benefits of GST to economy and business in number of ways: Reduction in cascading and double taxation Reduction in multiplicity of taxes. Neutralize  taxes especially for exports. GST will promote Development of common national market. Simplified tax structure by: 1) Reduced Tax rates and exemptions 2)  Good and service clarity Simplified Read more…

By GST Expert, ago
GST 2016

Salient Features of GST

The salient features of GST are as under: GST would be applicable on supply of goods or services as against the present concept of tax on the manufacture of goods or on sale of goods or on provision of services. GST would be a destination based tax as against the Read more…

By GST Expert, ago
GST 2016

Introduction of GST

Present Tax Structure in India for Indirect Taxes Proposed Indirect Tax system after GST Introduction of GST The introduction of Goods and Services Tax (GST) would be a very significant step in the field of indirect tax reforms in India. By consolidating a large number of Central and State taxes Read more…

By GST Expert, ago